SeaWorld shares sink again after attendance fall
Wednesday, 05 Aug, 2016
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SeaWorld Entertainment posted a sharp drop in attendance, sending its share price to its lowest ever level.
Shares tumbled 14% as the company said attendance fell 7.6% compared to a year ago.
SeaWorld stock is down 35% this year.
The company blamed a second quarter attendance fall of nearly half a million guests on a shift in the timing of holidays and softer demand for Orlando trips.
Economic woes in Brazil and across South America also continue to hit its bottom line.
"Latin American attendance is down approximately 40% or 235,000 guests year-to-date," said SeaWorld CEO Joel Manby.
Manby also cited the fall-out from the deadly Orlando nightclub shooting in June and concerns over the spread of the Zika virus in Florida.
"We have a Florida problem, not a SeaWorld Orlando problem," he said.
Manby warned investors full-year profits would come likely come in about $20m lower than it forecast at the end of the first quarter.
"Despite the challenges that accelerated this quarter, we are confident we are on the right path," Manby said.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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